5.
CompStudy
Overview
CompStudy.com
• All reporting now done on our online, fully interactive
platform, located at CompStudy.com.
• Participants in the annual survey receive free,
year-long access to the reports. Access is also available for
purchase.
• New features for 2013:
 New options for filtering the data,
including company valuation,
profitability, CEO experience, and
more
 Enhanced Board of Directors
reporting
 Additional printable summarylevel charts
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 5

20.
2013 Survey – Company Profiles
Institutional rounds raised
Headcount
Later stage companies are betterrepresented in this year’s survey; 82% of the
companies surveyed have raised 2+ rounds
of financing, compared to 78% in 2012.
Respondent company headcounts were slightly
larger than in 2012, though the distribution is
fairly close.
% respondents in this range
% respondents in this range
Number of rounds
Number of full time employees
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 21

22.
2013 Survey – Company Profiles
Founder status - % of role held by founders vs. non-founders
Participants had essentially the same founder/non-founder split by position profile as in 2012
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 23

26.
Compensation data
Founder current equity holdings, as % of fully diluted shares
*Fewer positions shown due to lack of founders in certain roles
On the average, founders of life sciences companies hold significantly less equity than their
technology peers – largely due to the more capital-intensive nature of most life sciences
start-ups.
% equity owned, fully diluted
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 27

28.
Compensation data
Cash compensation – non-founders, 2012 and 2013
Non-founder total target cash compensation was up 3% in 2013, down slightly from the 3.5% rate of
increase between 2011 and 2012.
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 29

29.
Compensation data
Bonus as a percentage of base salaries – non-founders
On average in 2012, non-founder executives received 67.8% of their target bonuses, up slightly from
65.5% in 2011.
% of base salary
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 30

33.
Compensation data
Percentage of non-founder executives eligible for severance
67.3% of non-founder CEOs surveyed had some sort of severance package, down from the
survey’s historical average of 73%.
No other position exceeded 50% participation.
% eligible for severance
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 34

34.
Compensation data
Length of severance packages granted (months)
As the median numbers suggest, the length of nearly every severance package granted is a
multiple of three months
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 35

36.
CEO compensation review
Non-founder CEO base (1,000s USD)
CEO salaries are more highly correlated with company headcount, as evidenced in the chart above by
the large gap in pay between CEOs at 1-20 FTE companies and CEOs at 21-40 FTE companies
By number of financing rounds raised
By number of full time employees
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 37

37.
CEO compensation review
Non-founder CEO current equity (% of fully diluted shares)
Headcount is a slightly better predictor of non-founder CEO equity; there is a lot of variability in the
data when sliced by financing status. This is partly attributable to difference between therapeutics
companies and all others in the survey; more filters can be applied at CompStudy.com
By number of financing rounds raised
By number of full time employees
Presented by Park Square, WilmerHale and EY
www.compstudy.com | 38